• Written by: John Kaczur
• Wed, 12 Jan 2022
•   Russian Federation

Not sure why Solana would want to be the next price gouging payment processor — but for crypto! — but apparently Bank of America thinks the smart contract protocol has that kind of potential.  All in on Solana… Just copped a Catalina Whale… pow pow! pic.twitter.com/97voS15B8y — Mike Tyson (@MikeTyson) January 12, 2022 In a […] The post Solana Can Be The Visa Of Crypto appeared first on CryptosRus.

Solana Can Be The Visa Of Crypto

Not sure why Solana would want to be the next price gouging payment processor — but for crypto! — but apparently Bank of America thinks the smart contract protocol has that kind of potential. 

All in on Solana… Just copped a Catalina Whale… pow pow! pic.twitter.com/97voS15B8y

— Mike Tyson (@MikeTyson) January 12, 2022

In a research note, Bank of America noted that the so called “ETH killer” Solana could become the “Visa of the digital asset ecosystem.” The comment came as Bank of America was hosting a conference call with Lily Liu, a member of the Solana Foundation.

Recommended: Top Five Solana Stories Of 2021

• Bank of America also noted that Solana can grab market share over time from Ethereum. The Ethereum Network is currently ahead of Solana adoption-wise, largely thanks to Ethereum’s dominance in DeFi and NFTs. 
• Solana’s Proof-of-History blockchain allows incredibly high transaction speeds. The speeds are so high they could theoretically compete with Visa like Bank of America asserts.
• However, the transaction speeds come with a trade off decentralization-wise, especially when compared to Ethereum. But beyond just the purity debate, the chain itself has a lot of difficulties simply staying online.
• Not to mention, the way Solana just restarts the network — like a disgruntled gamer — any time there is an issue raises questions of when and where they could step in at any given time.
• Solana currently sits 5th in terms of total market cap. It’s also the second largest smart contract protocol ahead of the likes of Cardano, Tezos, Avalanche, Algorand, etc. The Sam Bankman-Fried supported protocol is only behind Ethereum.
• Last week, Bank of America called Coinbase stock a buy. 

The post Solana Can Be The Visa Of Crypto appeared first on CryptosRus.